21 December 2016, India:
India’s first caffeine infused personal care brand MCaffeine has raised a funding of $300,000 from ace investors including Kaushal Agarwal – MD of Avendus Capital, Harminder Sahani – MD of Wazir Advisors, KK Mehra – ex-CTO of Capillary Technologies, Pranay Jivrajka – COO at Ola Cabs and Navjot Saini of Trafigura.
MCaffeine infuses personal care products such as shampoos and face wash with caffeine, which offers a unique combination of energy and care. Caffeine is a new age magical personal care discovery. It prevents hair fall and firms up the skin. The medicinal properties of caffeine on skin and hair have been well researched internationally.
“Raised fund will be used primarily on expanding the product portfolio and supply chain. The major focus will be to build an analytics engine for better product selection,” says Tarun Sharma, Founder and CEO of MCaffeine.
Vikas Lachhwani, Founder and President of MCaffeine said, “We conduct detailed focus groups and extensive product reviews. We collect both the ‘stated’ as well as ‘revealed’ preferences from a spectrum of consumers. The surveys, reviews, feedbacks have been used to train an analytics engine for product selection. This gives MCaffeine an unprecedented edge in the personal care industry. We aim to build a product range more aligned with consumers than industry leaders with fastest ‘time to market’ for product launches.”
Mumbai-based MCaffeine was started by Vikas Lachhwani and Tarun Sharma in October 2016.